Disney sells its A+E cable stake to Hearst
Money MovesDisney cashes out of A&E, History and Lifetime for $1.2 billion as it leans into streaming
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Overview
Disney is walking away from the cable channels that ran A&E, History and Lifetime. On August 5, it agreed to sell its 50% share of A+E Global Media to Hearst, its partner of four decades, for about $1.2 billion in cash.
The sale hands Hearst full control of a shrinking but still profitable cable group. For Disney, it is the clearest sign yet that the company would rather hold cash than keep betting on channels people are canceling.
Why it matters
The company that built the modern cable bundle is now selling pieces of it, a signal of how fast the old TV business is unwinding.
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People Involved
Organizations Involved
The cable group behind A&E, History, Lifetime and FYI, plus their studios and streaming services.
The Burbank media giant selling its A+E stake as it prioritizes streaming and ESPN.
Timeline
November 2023 August 2026
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Disney agrees to sell A+E stake for $1.2 billion
Latest DealDisney agrees to sell its half of A+E Global Media to Hearst in an all-cash deal, giving Hearst full ownership. Closing is expected in September.
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Sale to Hearst reported
DealReports say Disney will sell its 50% A+E stake to Hearst for more than $1 billion.
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Disney says it will keep its core networks
StatementCFO Hugh Johnston tells investors Disney will hold ABC, ESPN and cable networks like FX, calling them 'brands with studios.'
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Comcast completes the Versant cable spinoff
IndustryComcast separates most NBCUniversal cable networks into a standalone company, Versant, trading on the Nasdaq.
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Warner Bros. Discovery announces a split
IndustryWBD says it will divide into two public companies, separating declining cable networks from studios and streaming.
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Iger opens the door to selling TV assets
StatementBob Iger says some of Disney's traditional TV businesses may not be core to its future, signaling openness to sales.
Historical Context
3 moments from history that rhyme with this story — and how they unfolded.
Comcast spins off cable into Versant (2025)
Comcast moved most of NBCUniversal's cable networks, including USA and CNBC, into a new standalone company called Versant. The unit began trading on the Nasdaq under the ticker VSNT.
Comcast kept the growth assets and let the declining cable channels stand on their own.
Versant became a template for shedding cable without a full sale, a model rivals studied.
Disney's A+E exit runs on the same logic: separate the cash-flowing but shrinking cable business from the parts management wants to keep.
Warner Bros. Discovery splits in two (2025)
WBD announced it would break into two public companies, putting HBO Max and the studios on one side and cable networks like CNN and TNT, branded Discovery Global, on the other.
The move drew takeover interest from Comcast, Paramount and Netflix for the studio-and-streaming side.
It confirmed the industry consensus that streaming and cable now belong in separate companies.
Disney is doing a smaller version of the same sorting, peeling off a cable stake while keeping its streaming-linked networks.
News Corp splits publishing from entertainment (2013)
Rupert Murdoch divided News Corp, separating declining newspapers from the faster-growing film and TV assets that became 21st Century Fox. Investors had pushed to stop the print business from dragging on the whole.
The entertainment arm commanded a higher valuation once freed from newspapers.
It showed how media owners shed structurally shrinking units to protect the value of the growing ones.
The same pattern is at work: cable is now the declining asset that companies like Disney want to separate from their growth engines.
